Owner Financing on New Construction

[Brent Raver]

Good Morning! 

I am interested in using owner (seller) financing in order to acquire a rental property (hopefully a few).  I had the idea to find a developer who is building and selling townhomes and see if they would be willing to make a deal with me. 

Has anyone tried this? Do you have any tips? What are some of the Pros/Cons? 

I am interested in trying to find someone who is willing to do owner financing because I do not have enough money for a traditional mortgage. I am very interested in new construction because I will not need to renovate/ and I believe it will attract the type of tenant I want. I am not worried about cash flow (it would be nice) but if I break even every month I will be happy! I am in it for the long run and want to focus on building up the equity... At least for now as I try to get my first rental! 

Thank you for your advice!